2 Chinese Top Exchanges Stop Withdrawals, Japan Takes Over The Bitcoin Volume
China drives the price, there is no doubt about it.
Today we had news about PBoC making 2 biggest exchanges Huobi and OKCoin to stop withdrawals - price tanked by over 100 USD in minutes.
A few exchanges were offline a little today too.
Also PBoC made chinese exchanges to stop the 0% fee trading which also hurt volumes for a little time.
Today yet, we can see Japan is taking a big move.
Currently Yen is #1 volume in BTC trading and has 37,66% of the market share.
Another interesting this is that the price is driven just by 5 exchanges.
And the main thing - the top exchange BitFlyer has 0% fees.
Japan is going big on BTC ie its gonna be an legal payment method in Japan in 2 months source.
Current Bitcoin price is still lower than yesterday due to China news.
With Bitcoin Going Down Loads of Cryptos Lost Value
China could just block all bitcoin protocol traffic with their great chinese firewall.
And that would be it. lol.
The next weeks will be intersting.
Bitshares is going to start getting some organic traffic very soon. Once people experience 3 second transactions, and see the hundreds of assets and features in the Decentralized Exchange (https://bitshares.openledger.info), it's hard to look at any of those centralized Exchanges ever again.
all exchange bad news are good news for OL and BTS :)